Developing the Rationale

Developing the Rationale

Understanding the Rationale

  • Rationale refers to the underlying reasoning, logic, or justification behind a particular decision or course of action in marketing.

Basic Components

  • Identifying the problem or opportunity: This is about understanding the main marketing challenge that needs to be addressed or an opportunity in the market to be leveraged.

  • Defining objectives: These are specific, measurable, achievable, realistic and time-bound (SMART) goals that should align with overall business objectives.

  • Deciding on scope: The scope specifies the target audience, geographic location, and any other specifics for the marketing campaign.

Importance of Rationale

  • Developing a strong rationale can help gain buy-in from key stakeholders and provides clear objectives for the marketing team to aim for.

  • It contributes to the strategic direction of the marketing plan by identifying what needs to be achieved and setting measurable objectives for the campaign.

Risks of Neglecting Rationale

  • Without a clear rationale, marketing campaigns can be unfocused, wasteful of resources, and not achieve desired results.

  • Lack of rationale may lead to actions being out of sync with the overall business goals, leading to possible confusion or conflict.

Steps in Developing the Rationale

  • Research and analysis: Detailed and extensive research can give you useful insights about the market, competition, and consumer behaviour.

  • Identify unique selling points (USPs): What sets the product or service apart from competitors? This can be a key component in developing a strong rationale.

  • Identify target audience: Who would be the end users of the product or service? This can influence the direction of the marketing strategy.

  • Set marketing objectives: Define what the campaign aims to achieve in terms of revenue, market share, brand awareness, customer loyalty, etc.

  • Budgeting and resourcing: Determine the budget and resources that will be needed to implement the marketing strategies and achieve the specified objectives.

Remember, a successful marketing campaign requires careful planning and a clear rationale guiding every stage of its development and execution.